2012-03-07T13:00:03-06:00 2011-06-30 CROWE HORWATH LLP 3815 River Crossing Parkway Suite 300 Indianapolis IN 462400977 990 2010-07-01 351052049 PURDUE RESEARCH FOUNDATION PURD 7655881061 1281 Win Hentschel Boulevard West Lafayette IN 479064182 BELINDA RACHWAL 2012-02-27 true 3175698989 2010 2016-02-24 21:20:13Z JOSEPH B HORNETT 1281 Win Hentschel Blvd West Lafayette IN 479064182 281085311 false X WWW.PRF.ORG X 1930 IN THE PRIMARY MISSION OF PURDUE RESEARCH FOUNDATION IS TO ADVANCE THE MISSION OF PURDUE UNIVERSITY. 15 15 93 15 -313103 -449476 22253484 22724075 8503922 10127968 35418352 57195181 4757572 6828386 70933330 96875610 28339814 35973363 0 0 7316170 7682063 0 0 0 28191481 32798012 63847465 76453438 7085865 20422172 873132878 1069362893 150758623 225080544 722374255 844282349 X THE PRIMARY MISSION OF PURDUE RESEARCH FOUNDATION IS TO ADVANCE THE MISSION OF PURDUE UNIVERSITY. false 27623236 17978405 0 AWARDS TO DEPARTMENTS FOR RESEARCH FUNDING OF PURDUE UNIVERSITY PHD CANDIDATES. 11575738 11575738 0 INTERNATIONAL TRAVEL GRANTS, DISTINGUISHED PROFESSOR GRANTS, AND OTHER RESEARCH GRANTS. 9155348 6419220 0 RESEARCH GRANTS BY GOVERNMENTAL AGENCIES AND INDUSTRY FOR BASIC RESEARCH. 7392532 0 10127968 RENTAL INCOME IS COLLECTED FROM TENANTS LOCATED WITHIN THE PURDUE RESEARCH PARK AS WELL AS RESIDENTIAL UNITS. PURDUE RESEARCH PARK IS THE HOME OF STATE-OF-THE-ART TECHNOLOGY BUSINESS INCUBATORS. 7392532 0 10127968 55746854 true true false true false true true true true true true false false true true false true false false true false false false false false false true false true true false false false false false false false false false false true false false false true true true true false false true 285 0 true 93 true true true false false false false false false false false false X 15 15 false false false false false false false true true false true true true true true true true true true true true true IN X Belinda Rachwal 7655881061 1281 Win Hentschel Boulevard West Lafayette IN 479064182 JOHN HANAK 40 X 148984 0 38788 JUDITH A HALL 40 X 105372 0 32978 GREG DEASON 40 X 157299 0 39282 RICHARD BUCKIUS 5 X 0 0 0 BELINDA RACHWAL 40 X 113248 0 30566 DAVID HODDE 40 X 112721 0 36693 JOSEPH B HORNETT 40 X 263326 0 50879 JERRY D SEMLER 1 X 0 0 0 STEVEN SCHMIDT 1 X 0 0 0 CHARLES E SCHALLIOL 1 X 0 0 0 KEITH KRACH 1 X 0 0 0 RANDALL J LEWIS 1 X 0 0 0 DAVID JOHNSON 1 X 0 0 0 BOB F JESSE 1 X 0 0 0 DAVID ADAMS 1 X 0 0 0 JOHN D HARDIN 1 X 0 0 0 BARBARA H EDMONDSON 1 X 0 0 0 FRANCE A CORDOVA 5 X X 0 0 0 MICHAEL J BIRCK 1 X 0 0 0 ELIZABETH BECHDOL 1 X 0 0 0 J TIMOTHY MCGINLEY 1 X 0 0 0 KELVIN PENNINGTON 1 X 0 0 0 KAREN WHITE 40 X 103379 0 20605 JOHN BRATT 1 X 0 0 0 FOREST FARMER 1 X 0 0 0 W JOHN HINGST 1 X 0 0 0 WILLIAM OESTERLE 1 X 0 0 0 1004329 0 249791 7 false true false SHIEL SEXTON COMPANY INC 902 N CAPITAL AVE INDIANAPOLIS IN 46204 CONSTRUCTION 3794548 BARNES & THORNBURG 1313 MERCHANTS BANK BLDG INDIANAPOLIS IN 46204 LEGAL 1892720 CSO ARCHITECTS 280 EAST 96TH STREET SUITE 100 INDIANAPOLIS IN 46240 ARCHITECT FEES 1212759 POULOS INC 735 S LARAMIE AVE CHICAGO IL 60644 CONSTRUCTION 504098 STUART & BRANIGIN 300 MAIN ST SUITE 900 LAFAYETTE IN 479021010 LEGAL SERVICES 493739 34 22724075 1141902 22724075 RENTAL INCOME (LOSS) 532000 10127968 10127968 0 0 0 0 10127968 13965351 -313103 14278454 0 6227869 6227869 0 0 0 225904000 1535531 182497571 1712130 43406429 -176599 43229830 43229830 0 0 0 REGISTRATION FEE INCOME 212945 212945 FARM CROP INCOME 53953 53953 333619 0 0 333619 600517 96875610 10127968 -313103 64336670 35973363 35973363 0 0 0 1129763 284700 845063 0 4441355 1116089 3325266 754534 152550 601984 963588 165519 798069 392823 81193 311630 0 1813806 1579806 234000 192327 192327 367921 367921 0 2604856 2604856 1829478 946612 882866 1191890 311478 880412 217285 44317 172968 146801 113 146688 6341145 6341145 4280507 4280507 389319 138047 251272 0 73755 9282 64473 4656857 4656857 0 4131820 4131820 251107 13212 237895 BAD DEBT 39240 39240 UBIT TAX 7086 7086 PROPERTY,SALES, USE TAXES 1457206 228 1456978 GIFT ANNUITY PYMTS & FEES 1856595 173738 1682857 949011 3135 945876 0 76453438 55746854 20706584 0 0 0 0 14141881 17621142 505009 189630 15364478 15056744 0 0 0 0 1293087 18916275 0 0 0 0 179183375 32445313 139663639 146738062 304666423 363645068 342171000 488082989 3946119 3946119 0 0 51381242 15166864 873132878 1069362893 14009001 15820819 0 0 4389893 3972523 15805000 15290000 44431571 50359772 0 0 0 3756398 68595927 69096692 3527231 66784340 150758623 225080544 X 92298718 83876300 510404957 636996398 119670580 123409651 0 0 0 0 0 0 722374255 844282349 873132878 1069362893 X 20422172 101485922 X false true true X false X 31984828 20315232 27578786 22253485 22724075 124856406 0 0 31984828 20315232 27578786 22253485 22724075 124856406 5118010 119738396 26925122 20593565 20536299 15791689 20193220 104039895 0 0 2148578 636329 1134938 682825 600517 5203187 234099488 0.51150 0.53140 X OTHER INCOME, SCHEDULE A, PART II, LINE 12, 2006 - $2,148,578 2007 - $636,329 2008 - $1,134,938 2009 - $682,825 2010 - $600,517 TOTAL - $5,203,187, RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 false false false false false true 367921 false false false 367921 false 0 X 2 0.57 0 1 0 1 true 2926 true 0 18600 X DECORATION false false true 517230423 2061190 122703921 15512031 12178051 614305452 470068574 2413106 63744820 13113805 5882272 517230423 591395838 1939959 -104459187 13873576 4934460 470068574 0.00000 0.17220 0.82780 false false 58946583 58946583 112264757 27982042 84282715 0 7972035 4463271 3508764 0 146738062 0 106489180 F COMMON AND PREFERRED STOCK 47188315 F EMERGING MARKETS 23041892 F HEDGE FUNDS 180019073 F FIXED INCOME SECURITIES 33195570 F REAL ESTATE 17542757 C NATURAL RESOURCES 58818668 C INTERNATIONAL EQUITY 21787534 F 488082989 0 GIFT ANNUITY PAYABLE 3785729 DUE ON SPLIT INTEREST TRUSTS 62788272 SECURITIES LENDING 210339 66784340 96875610 76453438 20422172 97607196 0 97607196 118029368 188108436 97607196 0 97607196 90501240 6374370 6374370 96875610 76453438 0 0 76453438 0 0 76453438 Conservation easements policy Schedule D, Part II, Line 5 POLICY IN PLACE TO ENSURE ANNUAL MONITORING OF CONSERVATION EASEMENTS FOR FEDERAL GUILDELINE COMPLIANCE. Conservation easements financial reporting Schedule D, Part II, Line 9 CONSERVATION EASEMENTS ARE CONSIDERED ASSETS ON THE BALANCE SHEET. ANY EXPENSES ASSOCIATED WITH THE MONITORING, INSPECTING, AND ENFORCING OF EASEMENTS ARE EXPENSED IN THE YEAR INCURRED. Collections of art - description of collections Schedule D, Part III, Line 4 PURDUE RESEARCH FOUNDATION OWNS A COLLECTION OF ANTIQUE MEDICINE BOTTLES. THE COLLECTION WAS DONATED TO PURDUE RESEARCH FOUNDATION BY A PHYSICIAN. THE COLLECTION IS BEING HELD FOR DISPLAY. Explanation of escrow agreement Schedule D, Part IV, Line 2b THE FOUNDATION ACTS AS AN INTERMEDIARY FOR CERTAIN CONTRIBUTIONS RECEIVED BY AFFILIATE FOUNDATIONS FOR THE BENEFIT OF THE UNIVERSITY. THE FOUNDATION HOLDS THESE FUNDS AS A TRUSTEE UNTIL THEY ARE EXPENDED FOR THE UNIVERSITY. THE EXCESS OF CONTRIBUTIONS OVER EXPENDITURES IS SHOWN AS A LIABILITY ON THE BALANCE SHEET. Intended uses of endowment funds Schedule D, Part V, Line 4 THE ENDOWMENT FUNDS ARE HELD FOR THE BENEFIT OF PURDUE UNIVERSITY TO BE USED FOR SCHOLARSHIPS AND AWARDS. FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE UNITED STATES INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF STATE LAW. HOWEVER, THE FOUNDATION IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. THE FOUNDATION IS NOT CONSIDERED TO BE A PRIVATE FOUNDATION. CURRENT ACCOUNTING STANDARDS REQUIRE THE FOUNDATION TO DISCLOSE THE AMOUNT OF POTENTIAL BENEFIT OR OBLIGATION TO BE REALIZED AS A RESULT OF AN EXAMINATION PERFORMED BY A TAXING AUTHORITY. FOR THE YEAR ENDED JUNE 30, 2011, MANAGEMENT HAS DETERMINED THAT THE FOUNDATION DOES NOT HAVE ANY TAX POSITIONS THAT RESULT IN ANY UNCERTAINTIES REGARDING THE POSSIBLE IMPACT ON THE FOUNDATION'S FINANCIAL STATEMENTS. THE FOUNDATION DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. THE FOUNDATION IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR YEARS BEFORE 2008. THE FOUNDATION RECOGNIZES INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE FOUNDATION DID NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES AT JUNE 30, 2011. CENTRAL AMERICA AND THE CARIBBEAN PASSIVE INVESTMENTS 20709393 EUROPE (INCLUDING ICELAND AND GREENLAND) PASSIVE INVESTMENTS 1921244 NORTH AMERICA (CANADA & MEXICO ONLY) PASSIVE INVESTMENTS 253083 22883720 true false true true true false true PURDUE UNIVERSITY 401 SOUTH GRANT ST WEST LAFAYETTE IN 47906 356002041 501 (C)(3) 6374370 RESEARCH-GRANT GOV'T INDUSTRY PURDUE UNIVERSITY 401 SOUTH GRANT STREET WEST LAFAYETTE IN 47906 356002041 501(C)(3) 4500000 RESEARCH GRANT-XRXL PURDUE UNIVERSITY 401 SOUTH GRANT STREET WEST LAFAYETTE IN 47906 356002041 501(C)(3) 1000000 EQUIPMENT GRANTS-XRXL PURDUE UNIVERSITY 401 SOUTH GRANT STREET WEST LAFAYETTE IN 47906 356002041 501(C)(3) 400000 SUMMER RESEARCH GRANT-XRXL PURDUE UNIVERSITY 401 SOUTH GRANT STREET WEST LAFAYETTE IN 47906 356002041 501(C)(3) 150000 INTERNATIONAL TRAVEL GRANTS-XRXL PURDUE UNIVERSITY 401 SOUTH GRANT STREET WEST LAFAYETTE IN 47906 356002041 501(C)(3) 4690705 SCHOLARSHIPS-XRXL PURDUE UNIVERSITY 401 SOUTH GRANT STREET WEST LAFAYETTE IN 47906 356002041 501(C)(3) 259295 SPEC INCENT RESEARCH GRANTS-XRXL PURDUE UNIVERSITY 401 SOUTH GRANT STREET WEST LAFAYETTE IN 47906 356002041 501 (C)(3) 35000 INTERDISPLINARY FELLOWSHIP-XRXL PURDUE UNIVERSITY 401 SOUTH GRANT STREET WEST LAFAYETTE IN 47906 356002041 501(C)(3) 540738 DISTINGUISHED PROFESSOR GRANTS PURDUE UNIVERSITY 401 SOUTH GRANT STREET WEST LAFAYETTE IN 47906 356002041 501(C)(3) 17978405 SCHOLARSHIPS & AWARDS INDIANA ECONOMIC DEVELOPMENT FOUNDATION-BIO ONE NORTH CAPITOL SUITE 700 INDIANAPOLIS IN 46204 202664607 501(C)(3) 7500 SPONSORSHIP BIO INTERNATIONAL CONVENTION 2 0 Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 AT THE BEGINNING OF THE TAX YEAR, PURDUE UNIVERSITY SUBMITS GRANT REQUESTS IN THE FORM OF A BUDGET TO THE PURDUE RESEARCH FOUNDATION. AT THAT TIME, THE BOARD OF FOUNDATION APPROVES THE ENTIRE BUDGET, INCLUDING THE PROPOSED GRANTS. ALL MONEY GRANTED TO PURDUE UNIVERSITY ISUSED FOR PROGRAMS. X X X true true X X false false false false false false false false false JOHN HANAK 146614 0 0 0 2370 0 20657 0 18131 0 187772 0 0 0 GREG DEASON 156675 0 0 0 624 0 22157 0 17125 0 196581 0 0 0 JOSEPH B HORNETT 232912 0 0 0 30414 0 36390 0 14489 0 314205 0 0 0 First-class or charter travel Schedule J, Part I, Line 1a PURDUE RESEARCH FOUNDATION OWNS AN AIRPLANE THAT IS USED BY BOARD MEMBERS AND MANAGEMENT FOR TRAVEL FOR BUSINESS PURPOSES. PURDUE RESEARCH FOUNDATION EXPENSES ASSOCIATED WITH THE AIRPLANEARE EXCLUDED FROM TAXABLE INCOME FOR THE INDIVIDUALS SINCE THEY ARE USED FOR BUSINESS PURPOSES. Discretionary spending account Schedule J, Part I, Line 1a PURDUE RESEARCH FOUNDATION PAYS COUNTRY CLUB DUES FOR INDIVIDUALS THAT ARE CONDUCTING BUSINESS AT THE CLUB (SUCH AS DONOR RELATIONS), AND NOT FOR ANY PERSONAL BENEFIT. COUNTRY CLUB DUES ARE EXCLUDED FROM TAXABLE INCOME FOR THE INDIVIDUALS SINCE THEY ARE USED FOR BUSINESS PURPOSES. Health or social club dues or initiation fees Schedule J, Part I, Line 1a THE PRESIDENT HAS A DISCRETIONARY ACCOUNT AVAILABLE FOR SPENDING ON BUSINESS RELATED EXPENSES. PURDUE RESEARCH FOUNDATION EXPENSES ASSOCIATED WITH THE DISCRETIONARY ACCOUNT ARE EXCLUDED FROM TAXABLE INCOME SINCE THEY ARE USED FOR BUSINESS PURPOSES. INDIANA DEVELOPMENT FINANCE AUTHORITY 351602316 45504RGK6 2005-08-19 8185916 CONSTRUCTION OF EDUCATIONAL FACILITIES false false false INDIANA DEVELOPMENT FINANCE AUTHORITY 351602316 45504RGD2 2004-05-01 9986037 CONSTRUCTION OF EDUCATIONAL FACILITIES false false false 1045000 0 8248426 0 0 0 43782 61535 0 8248426 0 0 2007 false false true true 1430000 0 9990999 0 0 0 199718 0 0 9791281 0 0 2005 true false true true false false false false 0.0000 0.0000 0.0000 true false false false false 0.0000 0.0000 0.0000 true false false false 0.0 false 0.0 false true false false false false false true X 7 1141902 MARKET VALUE 6 false true false Description of other program services Form 990, Part III, Line 4d RENTAL INCOME IS COLLECTED FROM TENANTS LOCATED WITHIN THE PURDUE RESEARCH PARK AS WELL AS RESIDENTIAL UNITS. PURDUE RESEARCH PARK IS THE HOME OF STATE-OF-THE-ART TECHNOLOGY BUSINESS INCUBATORS. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b THE FORM 990 WILL BE COMPLETED ANNUALLY AFTER THE AUDIT IS COMPLETE. THE COMPANY'S SENIOR VICE PRESIDENT/TREASURER/COO WILL REVIEW THE FORM 990 WITH THE ASSISTANT VICE PRESIDENT OF FINANCE AND ALSO THE COMPANY'S AUDIT COMMITTEE CHAIRMAN. AFTER RESOLVING ANY QUESTIONS OR UPDATES, THE FORM 990 WILL BE PRESENTED TO THE BOARD MEMBERS FOR APPROVAL. ALL QUESTIONS AND CONCERNS OF THE MEMBERS OF THE BOARD WILL BE ADDRESSED BY THE SENIOR VICE PRESIDENT AND INCORPORATED INTO THE FORM 990 AS APPROPRIATE. AFTER ALL INPUT HAS BEEN APPROPRIATELY ADDRESSED, THE FORM 990 WILL BE FILED BY THE DUE DATE. Conflict of interest policy Form 990, Part VI, Section B, Line 12c A CONFLICT OF INTEREST QUESTIONNAIRE IS COMPLETED ANNUALLY BY ALL EMPLOYEES AND BOARD MEMBERS. ANY CONFLICTS OF INTEREST ARE INVESTIGATED BY THE HUMAN RESOURCES DEPARTMENT. IF A CONFLICT OF INTEREST IS ESTABLISHED, HUMAN RESOURCES WILL ESTABLISH SAFEGUARDS TO PROTECT ALL PARTIES INVOLVED. Process used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a THE BOARD OF DIRECTORS APPROVES THE TOTAL SALARY BUDGET FOR PURDUE RESEARCH FOUNDATION EACH YEAR. INCLUDED IN THE BUDGET ARE THE SUGGESTED SALARY INCREASES FOR ALL OFFICERS. PURDUE RESEARCH FOUNDATION USES COMPARABILITY DATA FROM SIMILAR FOUNDATIONS AND UNIVERSITIES IN DETERMINING THE SALARIES FOR THE OFFICERS. THE BOARD APPROVAL OF THE SALARIES IS DOCUMENTED IN THE BOARD MINUTES. THIS PROCESS WAS LAST UNDERTAKEN IN 2010. Process used to establish compensation of other officers/key employees Form 990, Part VI, Section B, Line 15b THE BOARD OF DIRECTORS APPROVES THE TOTAL SALARY BUDGET FOR PURDUE RESEARCH FOUNDATION EACH YEAR. INCLUDED IN THE BUDGET ARE THE SUGGESTED SALARY INCREASES FOR ALL OFFICERS. PURDUE RESEARCH FOUNDATION USES COMPARABILITY DATA FROM SIMILAR FOUNDATIONS AND UNIVERSITIES IN DETERMINING THE SALARIES FOR THE OFFICERS. THE BOARD APPROVAL OF THE SALARIES IS DOCUMENTED IN THE BOARD MINUTES. THIS PROCESS WAS LAST UNDERTAKEN IN 2010. Public Disclosure Form 990, Part VI, Section C, Line 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST TO PURDUE RESEARCH FOUNDATION. THE CONFLICT OF INTEREST POLICY IS NOT AVAILABLE TO THE PUBLIC AT THIS TIME. Other changes in net assets or fund balances Form 990, Part XI, Line 5 NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS - XXX-XX-XXXX; PRIOR PERIOD ADJUSTMENTS - 3878726; CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS - -14229652; INCREASE IN INTEREST IN PERPETUAL TRUST - 1678986; INPROTEO LLC 1281 WIN HENTSCHEL BLVD WEST LAFAYETTE IN 47906 431952076 RESEARCH DE 17534 1 NA VACCINE LLC 1281 WIN HENTSCHEL BLVD WEST LAFAYETTE IN 47906 351052049 RESEARCH IN 40000 40000 NA PURDUE UNIVERSITY OF CALUMET LLC 1281 WIN HENTSCHEL BOULEVARD WEST LAFAYETTE IN 479064182 351052049 MANAGE TECHNOLOGY CENTER IN 0 0 NA MCCLURE PARK LLC 1281 WIN HENTSCHEL BLVD WEST LAFAYETTE IN 47906 351078594 PROPERTY MANAGEMENT IN NA C CORPORATION 2611000 10936000 1 true false false true true false false false false false false false false true false true false false MCCLURE PARK LLC A 352238 COST MCCLURE PARK LLC D 15667008 COST MCCLURE PARK LLC E 1444254 COST